UBS Reaffirms Lumentum Holdings (LITE) As a “Buy”; They Now Have a Price Target Of $80

March 23, 2018 - By Louis Casey

 UBS Reaffirms Lumentum Holdings (LITE) As a

Lumentum Holdings (LITE) Rating Reaffirmed

In analysts note issued to clients and investors this morning, UBS reaffirmed their “Buy” rating on Lumentum Holdings (LITE) shares. The target price would suggest a possible upside of 15.86 % from firm’s previous close.

Lumentum Holdings Inc. (NASDAQ:LITE) Ratings Coverage

Among 18 analysts covering Lumentum Holdi… (LITE), 15 have Buy rating, 0 Sell and 3 Hold. Therefore 83% are positive. Lumentum Holdi… has $95.0 highest and $27 lowest target. $72.89’s average target is 5.56% above currents $69.05 stock price. Lumentum Holdi… had 66 analyst reports since February 23, 2016 according to SRatingsIntel. The firm has “Buy” rating by Piper Jaffray given on Wednesday, January 3. Piper Jaffray maintained Lumentum Holdings Inc. (NASDAQ:LITE) on Monday, October 9 with “Buy” rating. The firm has “Overweight” rating by Piper Jaffray given on Tuesday, February 23. Piper Jaffray maintained the shares of LITE in report on Monday, March 12 with “Buy” rating. The firm has “Buy” rating by M Partners given on Wednesday, September 27. Morgan Stanley maintained Lumentum Holdings Inc. (NASDAQ:LITE) on Friday, March 9 with “Equal-Weight” rating. On Friday, June 9 the stock rating was maintained by Jefferies with “Buy”. FBR Capital maintained the stock with “Buy” rating in Wednesday, January 31 report. On Tuesday, February 6 the stock rating was maintained by Piper Jaffray with “Buy”. As per Thursday, August 11, the company rating was downgraded by Morgan Stanley.

The stock decreased 1.07% or $0.75 during the last trading session, reaching $69.05. About 1.30 million shares traded. Lumentum Holdings Inc. (LITE) has risen 145.74% since March 23, 2017 and is uptrending. It has outperformed by 129.04% the S&P500.

Analysts await Lumentum Holdings Inc. (NASDAQ:LITE) to report earnings on May, 3. They expect $0.53 earnings per share, up 43.24 % or $0.16 from last year’s $0.37 per share. LITE’s profit will be $33.17 million for 32.57 P/E if the $0.53 EPS becomes a reality. After $1.44 actual earnings per share reported by Lumentum Holdings Inc. for the previous quarter, Wall Street now forecasts -63.19 % negative EPS growth.

Lumentum Holdings Inc. manufactures and sells optical and photonic products in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa. The company has market cap of $4.32 billion. It operates through two divisions, Optical Communications and Commercial Lasers. It has a 42.89 P/E ratio. The Optical Communications segment offers components, modules, and subsystems that enable the transmission and transport of video, audio, and text data over high-capacity fiber optic cables.

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